Today, high interest rates are a source of concern for many Canadians. However, amidst the concern lies a financial opportunity that offers stability and reliable returns – Guaranteed Investment Certificates (GICs). GICs provide many advantages and can provide a safe harbor for your investments.

1. Higher Rates Than in the Past
   While higher interest rates are stressful when it comes to borrowing, the flip side is that deposit rates are also higher. GICs now have the potential to earn more than in the past. Now is a good time to add a safe, stable GIC at a good rate to your savings mix.
2. A Guaranteed Rate
   One of the primary benefits of GICs is the ability to lock in at a guaranteed interest rate for the term of the investment. By doing so, you shield your investment from potential interest rate drops. This makes GICs an ideal option for those seeking a secure and predictable return on their investment.
3. Safety and Security
   When you invest in a GIC, your deposits are 100% guaranteed. That’s right, we keep your money safe. You’ll have peace of mind knowing that no matter what, deposits are 100% insured by the Credit Union Deposit Insurance Corporation of British Columbia (CUDIC).
4. A GIC for Your Situation
   Whether you have short-term or long-term financial objectives, GICs offer a wide range of terms and rates to suit your needs. If you require flexibility, a Cashable or Redeemable GIC might be the perfect choice. On the other hand, if you aim to maximize your returns over a longer period, a non-redeemable term deposit with a higher rate can provide the ideal solution. With the variety of options available, you can choose a GIC that aligns with your unique financial goals.
5. Strengthen Island Communities
   When you invest in a GIC with Coastal Community, you help to strengthen Island communities. Deposits are reinvested as loans for Island residents and businesses. Your money stays in the community and helps a family get their first mortgage, a local business open a new location—and much more.

If you’re looking for a reliable, safe investment that you can count on, and feel good about, now is the time to consider a Coastal Community GIC. If you have questions regarding the right GIC for you, reach out to one of our experts.